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Category Archives: results
Corporate Climate Change – Honda Reveals Reorganization
Today’s announcement concerns the restructuring of Regional Operations and Corporate Functions, as well as the creation of what is called “Electrification Business Development Operations.” EBDO is an outgrowth of the Business Development Operations established last April to strengthen electrification business. Continue reading
Volvo Car USA Recalls all 2023 Models for Software Bug
Volvo Car USA is recalling all 2023 S60, V60, V60CC, V90CC, XC60, XC90, XC40, and C40 vehicles because of a computer code error the Brake Control Module 2 (BCM2) may cause a loss of the Antilock Brake System (ABS), Electronic Stability Control (ESC), and the traction control system. A certain diagnostic test case that checks the grounding may put the BCM2 in a faulty state potentially resulting in a loss of brake support functions. Continue reading
Milestones – Honda Makes 30 Millionth US Vehicle
This was a significant move at the time since Honda was the first Japanese automaker to produce cars in the US. It arguably forced Toyota and Nissan and other offshore makers to follow. Since then, Honda has invested $16 billion in Honda US manufacturing facilities for auto and associated components for autos. During 2022, more than two-thirds of all Honda and Acura vehicles sold in America were made in the US. Continue reading
Current Flows – J.D. Power Now Tracking EV Parity
Today, the EV Index score is 47 (based on the most recent available data from November 2022), with some categories improving and others declining during the 12-month pilot period. The EV Index score and accompanying analysis will be available monthly. The index is of use to people who are considering purchasing, one of the reasons AutoInformed uses it. Continue reading
December Global Light Vehicle Sales at 82M Down Again
China’s market was a major culprit with its sluggish end to 2022 . In China December raw sales were down almost 12% year-over-year (YoY), which LMC attributed to increased disruption and uncertainty with the abrupt ending to the zero-Covid policy. North America and Europe showed positive YoY growth for December, although both remained below their 2021 sales, -7% and -11% respectively. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, December global sales, Ken Zino, lmc, oxford economics
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Total Sales Flat in 2022 at 1.6M as Audi Delivers 100,000 EVs
“In a challenging and dynamic environment, our global team once again proved its resilience in 2022,” said Hildegard Wortmann, Member of the Board of Management for Sales and Marketing at AUDI AG. “Thanks to extraordinary team spirit, operational excellence and effective sales control, we were able to close out the business year successfully.”
Audi in a classic public relations move then switched the subject. “Overall, Audi delivered 118,196 electric models to customers last year, which is 44.3% more than in 2021ignoring that such a percentage was possible because of the small base number from which it derived. The business challenge comes from Audi’s previously stated strategy that deems starting in 2026, Audi will only introduce all-electric cars to the global market. Continue reading
Posted in electric vehicles, sales
Tagged auto industry commentary, autoinformed.com, Hildegard Wortmann, Ken Zino
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Bugged – BMW EV Software Recall on 14,000 Vehicles
The software misdiagnosis glitch can sporadically occur irregularly within the battery management electronics, which could cause the electronic control unit to reset. If a reset occurs, this could cause an interruption of electrical power. If an interruption of electrical power occurs while driving, it may result in a brief loss of power, or stalling, which could increase the risk of a crash. However, a restart of the vehicle is possible, and would allow for continued driving. The driver would also be alerted by a warning message. Continue reading
Mercedes-Benz Recalls 324,000 Vehicles for Sudden Stalling
Covered are the so-called GLE/ML (166 platform) and GLE Coupe (292 platform) vehicles. “Depending on the amount of water that has entered the spare wheel well, the accumulated water could intermittently contact the fuel pump control unit,” Mercedes said. Continue reading
Posted in customer satisfaction, quality, recalls, safety
Tagged auto industry commentary, autoinformed.com, Ken Zino, mercedes recalls, nhtsa, sudden stalling
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Penske Automotive Group SEC 8K Filing – Cuts Credit Costs
“The U.S. Credit Agreement provides for up to $800.0 million in revolving loans for working capital, acquisitions, capital expenditures, investments, and other general corporate purposes, and provides up to an additional $50.0 million of letters of credit. The U.S. Credit Agreement provides for a maximum of $150.0 million of borrowings for foreign acquisitions and expires on September 30, 2025. The interest rate on revolving loans is LIBOR plus 1.50%, subject to an incremental 1.50% for uncollateralized borrowings in excess of a defined borrowing base.” Continue reading
Posted in auto news, economy, financial results, shows and events
Tagged auto industry commentary, autoinformed.com, Ken Zino, sec
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2022 US Light Vehicles Sales Worst Since 2011
However, December posted the highest volumes of 2022, ahead of March by ~26,000 units. The daily selling rate was estimated by LMC as 47,500 units/selling day, compared to 44,900 units/selling day in November. LMC thinks that shows how the annualized selling rate was affected by the historical seasonality rather than the pace of sales necessarily slowing down. According to preliminary estimates, retail sales totaled around 1,057,000 units, unchanged from December 2021, while fleet accounted for approximately 225,000 units, representing 17.6% of the total market. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, GlobalData, Jeff Schuster, Ken Zino, lmc
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GM Canada Sales Up 42% in Q4, 5% During 2022
For EVs, Canadian shipments for the Cadillac LYRIQ have already begun, with the first customer deliveries expected in January. Also launching in 2023 are the Chevrolet Equinox EV, Chevrolet Blazer EV, Chevrolet Silverado EV, GMC Sierra EV, and GMC HUMMER SUV EV. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, EVs, gm canada, Ken Zino
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Toyota Motor North America 2022 Sales Drop Notably
“As the industry closes out 2022, we’re expecting the year to end around 13.9 million SAAR. And for 2023, we’re predicting a SAAR to grow to approximately 15 million. And while we still have many of 2022 challenges carrying into 2023, we’re moving in the right direction, and doing whatever we can to get vehicles to our customers as quickly as possible. So, we’re cautiously optimistic about our future. Now let me turn it over to Andrew to talk about our two brands,” said Jack Hollis, executive vice president of Toyota Motor North America (TMNA) and president of Toyota Motor Sales. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, Jack Hollis, Ken Zino, TMNA
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Stellantis to Make Archer Electric Airplanes
Stellantis now will work on Archer’s recently announced manufacturing facility in Covington, Georgia. The companies plan to begin manufacturing the Midnight aircraft in 2024. Midnight is claimed to be safe, sustainable, quiet and, with an expected payload of more than 1000 pounds. It can carry four passengers plus a pilot. With a range of 100 miles, Midnight is meant for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. All this of course is dependent on The Federal Aviation Administration issuing a type certificate and approving other air worthiness requirements including training and operating limitations. Continue reading
General Motors Posts US Sales Leadership for 2022
General Motors (NYSE: GM) said today that GM and its dealers delivered 2.8 million vehicles in the U.S. in 2022 (+3%), leading the industry in total sales. GM also claimed that it extended its leadership in key market segments including full-size pickups and full-size SUVs.
Industry sales results will be forthcoming during the next couple of days, which will allow for a more nuanced analysis. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, Steve Carlisle
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Death of the Diesel – EPA Fines Genesee & Wyoming Railroad Services
GWRSI estimates that the company will spend approximately $42 million to comply with the consent decree requirements which will reduce NOx emissions from its locomotives by approximately 469 tons per year and particulate matter emissions by 14 tons per year. As these things go, this appears to be an amiable settlement to AutoInformed. Continue reading →